US President Donald Trump speaks near a seal of the Department of Veterans Affairs during a Veterans Day ceremony at Arlington National Cemetery in Arlington, Virginia, US, November 11, 2026. REUTERS/Kylie Cooper
Newsletter author Simon Rosenberg says President Donald Trump has made no changes since the midterms, pointing to a new inflation report and a polling low.
In his "Hopium Chronicles" newsletter, Rosenberg called it “astonishing” that Trump has done nothing in the 10 days since the election to respond to voters.
“He’s done nothing — again as if he doesn’t actually understand what is happening around him any longer,” Rosenberg wrote.
Rosenberg cited Friday’s Producer Price Index, which he said rose 0.3 percent in October and 6.5 percent over 12 months. He argued that all three major inflation gauges show Trump inherited falling inflation and then reignited it. He added that interest rates have soared and job growth has slowed, a combination that runs against the traditional short-run link between rising inflation and stronger employment.
Per Rosenberg, climbing bond yields are putting renewed pressure on the Federal Reserve to raise rates. He also pointed to a chart showing Trump at a new low in the Civiqs daily tracking poll.
Rosenberg highlighted a letter from Rep. Hakeem Jeffries (D-NY), who is seeking the speakership, laying out three priorities for the new Congress: affordability, accountability, and American values. Jeffries wrote that Democrats will “aggressively fight for an affordable America.”
He also pointed to a Washington Monthly article by Rob Shapiro urging Democrats to use budget reconciliation to repeal parts of Trump’s 2025 tax law. Shapiro writes the rollbacks would raise $2.4 trillion over 10 years.
Rosenberg noted that the governors’ races in Alaska and Kansas have been called for Democrats, and that Mary Peltola picked up more votes in Alaska’s still-uncalled Senate race.